Hot Features
Premium
Register for real-time alerts, custom portfolio, and market movers
The key points from today’s economic news, brought to you by Guardian Stockbrokers.
ECB cut rates and expanded QE
The ECB surprised financial markets by unveiling an unprecedented package of growth-enhancing measures in the face of slowing global economy. The central bank unexpectedly cut its key interest rate by 5 basis points to zero, compared to market expectations of a steady rate of 0.05%. Meanwhile, it expanded its quantitative easing programme and slashed a key bank deposit rate further into negative territory. The ECB President, Mario Draghi, at a news conference stated that rates would remain very low for at least another year and expected the Euro region to face lack of price pressures for months to come. However, he played down expectations of more rate cuts. The bank also slashed inflation projections to reflect the recent drop in oil prices.
German exports surprisingly eased in January
The seasonally adjusted exports registered an unexpected drop of 0.50% on a monthly basis in January, in Germany, compared to a revised fall of 0.70% in the prior month. Market anticipation was for exports to climb 0.80%.
German imports rose more than expected in January
In January, on a MoM basis, the seasonally adjusted imports advanced 1.20% in Germany, more than market expectations for a rise of 0.80%. Imports had recorded a drop of 1.60% in the previous month.
German current account surplus narrowed in January
The non-seasonally adjusted current account surplus in Germany dropped to €13.20 billion in January, less than market expectations of a current account surplus of €17.00 billion. Germany had registered a revised current account surplus of €26.30 billion in the prior month.
German labour costs recorded a rise in 4Q 2015
In Germany, the working day adjusted labour costs advanced 2.10% in 4Q 2015 on an annual basis. Labour costs had advanced 2.40% in the prior quarter.
German trade surplus dropped in January
Germany has registered the seasonally adjusted trade surplus of €13.60 billion in January, following a revised trade surplus of €19.00 billion in the previous month. Markets were expecting the nation to record a trade surplus of €17.00 billion.
German labour costs rose in 4Q 2015
On a quarterly basis, the seasonally adjusted labour costs in Germany registered a rise of 0.50% in 4Q 2015. Labour costs had risen by a revised 0.10% in the previous quarter.
French non-farm payrolls rose as expected in 4Q 2015
In France, the final non-farm payrolls rose 0.20% in 4Q 2015 on a QoQ basis, at par with market expectations. Non-farm payrolls had registered a flat reading in the previous quarter. The preliminary figures had also recorded a rise of 0.20%.
French manufacturing production advanced more than expected in January
On a monthly basis, manufacturing production advanced 0.80% in January, in France, more than market expectations for a rise of 0.50%. Manufacturing production had recorded a revised flat reading in the previous month.
French industrial production advanced more than expected in January
On a MoM basis, industrial production in France recorded a rise of 1.30% in January, more than market expectations for an advance of 0.80%. In the prior month, industrial production had fallen by a revised 0.60%.
Spanish retail sales rose more than expected in January
On an annual basis, retail sales registered a rise of 3.30% in January, in Spain, higher than market expectations for a rise of 3.10%. Retail sales had advanced 2.20% in the previous month.
US continuing jobless claims eased in the last week
The US Department of Labour has reported that, in the week ended 27 February 2016, the seasonally adjusted continuing jobless claims in the US registered a drop to 2225.00 K, lower than market expectations of a fall to 2250.00 K. In the previous week, continuing jobless claims had registered a level of 2257.00 K.
US household wealth registered a rise in 4Q 2015
Household wealth in the US rose $1637.00 billion, in 4Q 2015. In the prior quarter, household wealth had dropped by a revised $1321.00 billion.
US posted budget deficit in February
The US has posted budget deficit of $192.61 billion in February, compared to a budget surplus of $55.16 billion in the prior month.
US initial jobless claims dropped in the last week
In the US, the seasonally adjusted initial jobless claims eased to 259.00 K in the week ended 05 March 2016, compared to a revised level of 277.00 K in the previous week. Markets were anticipating initial jobless claims to drop to a level of 275.00 K.
Canadian new housing price index advanced less than expected in January
The new housing price index in Canada registered a rise of 0.10% in January on a monthly basis, compared to a similar rise in the previous month. Market anticipation was for the new housing price index to climb 0.20%.
Canadian new housing price index rose as expected in January
On an annual basis, in Canada, the new housing price index recorded a rise of 1.80% in January, compared to an advance of 1.60% in the prior month. Markets were expecting the new housing price index to rise 1.80%.
Canadian capacity utilisation registered a surprise drop in 4Q 2015
In 4Q 2015, capacity utilization in Canada dropped unexpectedly to a level of 81.10%, compared to market expectations of a rise to a level of 81.70%. Capacity utilisation had recorded a revised reading of 81.60% in the previous quarter.
Japanese business survey index (BSI) of large manufacturing industries dropped in 1Q 2016
Business survey index (BSI) of large manufacturing industries dropped 7.90% on a quarterly basis in Japan, in 1Q 2016. Business survey index (BSI) of large manufacturing industries had registered a rise of 3.80% in the prior quarter.
Click here to sign up for the in depth Guardian Stockbrokers Market Daily report.
